The internet has been a revolution of undoubted importance in the business world, for government, and for our culture. It has thus far flourished, largely without government intervention or oversight. But is increased federal regulation of the internet inevitable? If so, which agency is best able to provide such regulation in a manner that will allow the internet to continue to grow in the most beneficial manner? Will the Federal Trade Commission become the primary federal agency, to the exclusion of the Federal Communications Commission, of internet regulation? What are the relative merits of regulation by either or both agencies? Is regulation by an agency even possible at this point, or is legislation required first?